Discover the motivations of today's car buyers and explore the vehicles that cater to their unique needs. MotorVero offers insights to help you navigate the car market confidently.
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The decision to buy a car is significant, especially in the wake of a global pandemic that disrupted supply chains, reduced inventories, and drove up prices. Despite the challenges, car buyers are returning to the market, driven by various needs and desires. But who exactly is buying cars now, and why?
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Broken-Down Bobby represents 21% of car buyers whose vehicles are either too old or too expensive to repair. Bobby’s priority is reliability, often opting for used cars within a $20,000-$30,000 budget. These shoppers favor proven internal combustion engine (ICE) vehicles over electric cars due to cost and familiarity.
Lifestyle-Change Lory, accounting for 17% of buyers, seeks a vehicle to accommodate life changes like growing families or new hobbies. These buyers prioritize safety and often lean toward new cars, hybrids, or electric vehicles within a $30,000-$40,000 budget. However, 34% anticipate spending more than expected.
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Feature-Focused Frankie represents 13% of buyers who crave the latest technology and features. With a $40,000-$50,000 budget, Frankies often explore new vehicles, hybrids, and electric models. Many prefer shopping online, embracing convenience and innovation in both cars and purchasing methods.
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After years of challenges, the car market is stabilizing, offering new opportunities for buyers. With more people entering the market, thorough research and informed decisions are crucial. MotorVero provides the tools and resources to make car shopping seamless, whether you're buying new or used, ICE or electric.
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MotorVero connects buyers with trusted dealers, offering access to thousands of new and used cars.
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Our expert insights, reviews, and tools simplify the car-buying journey, ensuring you find the perfect vehicle for your needs and budget.
Last Updated On Jan, 27-2025